Business in Fashion and Luxury (BiFL) Beats
2024 Events
BiFL X BOSS EMPOWER YOUR STYLE
Fordham Business in Fashion and Luxury (BiFL) X BOSS hosted their Empower Your Style #BOSSMINDSET event.
The event featured a discussion with BiFL President Nina Show and BiFL Vice President Neil Stevenson and speakers Brian Choi, CEO of The Food Institute and Robyn Carter, founder and CEO of Jump Rope Innovation. Choi reflected on his #BOSSMINDSET, emphasizing that “a true boss is someone who has people who want to follow you.”
Both Choi and Carter shared insights on their entrepreneurial journeys, the importance of data-driven decisions, and navigating challenges with agility and authenticity, particularly in ESG and sustainability. Choi stressed that sustainability must move beyond “all talk,” and Carter adding that sustainable products must perform as well as their traditional counterparts to succeed.
A standout takeaway inspiring tomorrow's leaders: always strive to be your best self and make a strong first impression—starting with a presentable look.
The highlight of the event featured a style showcase of the versatile BOSS collection, with host James Arndt and Fordham students, perfect for today's business leaders. Lucky recepients from our #BOSSMINDSET challenge received autographed BOSS footballs making it a truly memorable event!
BiFL RETAIL INSIGHTS 2024
PART I: Insights in Brand Building- In Conversation with Ari Hoffman - CEO North America, Ted Baker
At our Insights event branding expert, Ari Hoffman, former CEO TED BAKER, shared key insights into the evolving luxury landscape. He shared the importance of recognizing a brand as a person, emphasizing the need to visualize its personality and how it can evolve authentically.
The conversation touched on the importance of social media and how it should be carefully curated to foster meaningful engagement.
DTC e-commerce is still crucial channel for a brand's growth and success, but brick-and-mortar stores remain indispensable.
Moreover a fluid omnichannel experience is what today’s luxury customers expect.
On challenges, Ari noted that “every brand fails till they succeed,” highlighting resilience as key. Lastly, taking a look at trends that we will see continue, include rental models for special occasions. AI is the future and the predictive capabilities will shape personalized consumer experiences. AI’s role, however, should focus on backend efficiency rather than being customer-facing.
PART II: Insights in Retail Merchandising and Sustainability: In Conversation with Jenny Liu Director of Merchandising, Theory
In her conversation with Fordham's adjunct professor Jennifer O'Neil, Jenny Liu, Director of Merchandising at Theory shared valuable insights into curating collections and navigating the fashion industry. She emphasized the importance of tailoring collections based on seasonality and leveraging predictive tools to plan future offerings. Services like WGSN (Worth Global Style Network), a leading fashion trend forecasting platform, play a key role in understanding consumer trends and shaping efficient merchandising strategies.
She also highlighted Theory's commitment to sustainability through robust traceability efforts, tracking their supply chain to ensure responsible sourcing and fostering a production model built for longevity. "Sustainability starts at the raw materials stage," she noted, underscoring its critical role.
On decision-making, she discussed the balance between intuition and data, explaining that while both are vital in targeting customers, final decisions often rest with buyers or retailers.
Sharing her past entrepreneurial journey, she candidly acknowledged the challenges of starting a business and stressed the importance of careful planning. Finally, as career advice, she emphasized the value of being present, respecting others’ time, and building trust—qualities that make a lasting impression on employers.
BiFL SUMMIT 2024
PANEL I: Ever-Evolving Terrain of Luxury E-commerce
Our first panel of the summit was a conversation with BiFL President Nina Show and speakers Heather Kaminetsky (President Mytheresa, North America) and Mario Barton (Head of Marketplace Farfetch, North America). Mario and Heather shared compelling perspectives on the evolving role of technology and customer engagement in luxury e-commerce. Mario highlighted how AI is transforming global interactions by enhancing personalization and capturing customer interest, though he noted that luxury ultimately remains an experiential category. Heather echoed this sentiment, emphasizing that relationships with luxury customers are best built through in-person connections rather than solely online interactions.
Technology-driven personalization is reshaping the industry, with Mytheresa looking to explore tools like Apple Vision Pro enabling augmented shopping experiences. Heather explained, however, that Mytheresa prioritizes seamless and transactional. Storytelling is important but it something that occurs more with exclusive events catering to customer needs Mario shared how pop up stores are important to product discovery as he underscored the importance of a continuous and connected customer journey across all touchpoints. This includes mobile, desktop, or in-store. Innovations like kiosks and digital screens in physical stores aim to integrate online and offline experiences, effectively “logging into” the store.
Both speakers agreed that luxury e-commerce is here to stay, even as the sector consolidates. Mario emphasized the need to operate efficiently and optimize pricing strategies to retain loyal customers, while Heather predicted new players and shopping formats will continue to emerge.
Finally, they shared advice for aspiring professionals in the field. Mario highlighted the value of strong communication skills and emotional intelligence, while Heather pointed out that traits like discipline and resilience, often seen in athletes, make for exceptional employees in the luxury sector.
PANEL II: The Luxury Immersive Experience
In a panel moderated by Fordham's adjunct professor Greg Licciardi, panelists included speakers Ivette Stephanopolous (VP Code of Origin & Trade Services De Beers Group), Matt Brown (Vice President, Store Director, NY Flagship Saks Fifth Avenue) and Julia Stripe Jaffe (Director, Store Design & Construction David Yurman). On luxury’s immersive experience, industry experts shared key insights on tailoring luxury to meet evolving customer expectations. Julia emphasized the importance of understanding regional markets when designing in-store experiences, highlighting the need to align local adaptations with a unified brand identity. "In-store experiences remain critical for customers to try on and size products," Julia says. It is important for the customer to assess the product in person.
Ivette shared about the use of new technologies In the diamond business. Blockchain technology is being leveraged to trace sourcing, offering customers a transparent and authentic journey behind each stone. CRM strategies also play a pivotal role when providing a luxury in store experience, as Matt Browne explained, with personal shopping services and style advisors, like those at the 5th Avenue Club, deepening client relationships through tailored, immersive experiences. Style advisors are now equipped to bridge online and offline interactions, curating items based on what customers have browsed online.
Julia stressed the importance of training sales staff on store layouts and brand storytelling, ensuring every detail enhances the retail experience. Store locations in key areas like Bal Harbour or Miami Design District is crucial to reach the luxury customer. And an emphasis of reaching out to a digitaly inclined audience segment includes in store layouts that help build that immersive experience and Instagram-worthy moments. Ivette added that the importance of equipping sales team with the right knowledge so that they are a reliable source for customers in their buying journey is critical. Panelists agreed that personalization, simplicity, and omnichannel efficiency are top priorities for today’s luxury consumers.
Finally, on career advice and important skills to be successful in luxury retail, Julia encouraged thinking outside the box, Ivette emphasized the importance of building strong relationships, and Matt highlighted the value of customer service skills and taking feedback into account to improve the customer experience.
BUSINESS IN FASHION AND LUXURY (BiFL) Beats
2023 Events
BiFL + FWIB cohost a style session with M.M. LaFleur's Taylor Purcell and style team who shared elevated wardrobe essentials to update your business professional fit
BiFL speaks with Tolu Aleshinloye (Van Cleef Arpels Director of Marketing and former Director of fine jewelry and timepieces at Louis Vuitton) to discuss the significance of preserving a luxury jewelry brand's heritage while exploring innovative ways to share the brand's story that captivates and engages newer customers
BiFL hosts Retail Roundtable where guest moderator Bethany Bengtson speaks with retail professionals on Holiday Outlook 2023.
Key Insights:
-
Dr. Randa Jafar shares about her luxury medspa and building her brand's aesthetic with a beautiful luxury space.
-
Haley Ryerson shares insights on CDP shaping retail data analytics
-
Mark Longacre shares more on generational trends with travel/ experiential topping the list.
BiFL hosted Gabby Hirata (Halara Global Brand President and former CEO at DVF) who shared insights on building an affordable and accessible brand. Gabby also shares how machine learning is utilized to track consumer trends, develop designs that account for these consumer trends, and optimize fulfillment strategies.
